If your client is injured at work, it’s likely that their injuries will be covered by workers’ comp. Workers’ comp is a type of insurance that covers a workers wages and medical expenses in the event that he or she becomes injured on the job.
When negotiations take place, it is not uncommon for the worker to be asked whether they would like payments in the form of a workers’ comp structured settlement. This means that they will get payments over time rather than getting one lump sum. Structured settlements are often used to fund Medicare Set-Aside Trusts which can be approved by the Federal Government to be funded over time.
Structured settlements can also be ideal because they provide a steady payment stream for the injured worker or for the injured worker’s family if the worker dies.
At Quest Settlements, we take a closer look at how a workers’ compensation structured settlement works so you know your options if you or your client becomes injured at work.